EU fines car glass makers a record 1.3 billion euros

BRUSSELS, Nov. 12 (Xinhua) -- The European Commission on Wednesday fined four car glass manufacturers a record 1.3 billion euros (1.63 billion U.S. dollars) for price fixing during a five-year period.

The companies include Asahi, Pilkington, Saint-Gobain and Soliver. Saint-Gobain alone was fined 890 million euros (1.11 billion dollars).

European Union (EU) Competition Commissioner Neelie Kroes, who announced the fines, said the companies cheated car manufacturers and car buyers by manipulating the market between 1998 and 2003. The four companies controlled 90 percent of the glass used in new cars sold in the EU and in replacements. The car glass business was worth 2 billion euros (2.5 billion dollars) in 2003, she said.